WASHINGTON, July 17, 2014 – The World Bank’s Board of Executive Directors today launched a new strategy to help the Democratic Republic of São Tomé and Príncipe (STP), implement the country’s Second Poverty... Show More + Reduction Strategy Paper, agreeing to provide up to $20 million in IDA* resources over four years to help cut poverty (currently above 60 percent), increase growth, create jobs, and reduce the country’s vulnerability to shocks.Under the new Country Partnership Strategy (CPS), the Bank Group will focus on two broad themes: (a) supporting macroeconomic stability and national competitiveness, and (b) reducing vulnerability and strengthening human capacity. Embedded in the above development objectives are cross cutting themes such as addressing gender inequities, supporting partnership, and fostering capacity-building.“I’m delighted with this important milestone in our program in STP,” said Gregor Binkert, Country Director for São Tomé and Príncipe. “STP is one of the smallest economies Show Less -

WASHINGTON, July 7, 2014 - The World Bank Group committed a record-breaking *$15.3 billion to Sub Saharan Africa’s development in fiscal year 2014 (July 2013 to June 2014) supporting shared prosperity... Show More + in the Region and focusing on increased efforts to reduce poverty.“Africa is making significant progress and at the World Bank we are stepping up the momentum to innovate and think big in order to help our clients achieve their development goals. We applaud the improved policies and prudent fiscal decisions many governments have made and we will continue to provide financing through loans and grants, technical expertise and to mobilize our unique convening power to leverage the resources of other development partners,” said Makhtar Diop, World Bank Vice President for the Africa Region.The Bank Group continued its strong commitment to Africa delivering $10.6 billion in new lending for 160 projects this fiscal year (FY14). These commitments included a new record of $10.2 billion in zero-int Show Less -

IDA Grant: US $3.5 million equivalentProject ID: P150828Project Description: The objective of the project is to improve the system of inservice teacher training and to strengthen the management... Show More + of human resources in the education sector in São Tomé and Príncipe. Show Less -

WASHINGTON, June 27, 2014 – The World Bank Board of Executive Directors has approved US$3.5 million in continuing support to help São Tomé and Principe expand training for its primary school teachers... Show More + and begin training for preschool teachers. The goal is to improve the quality of education at all levels and to improve the overall governance of the education sector.In recent years, São Tomé and Principe has made education a top priority and almost every child is enrolled in primary school. However, the quality of education is insufficient because there are not enough trained teachers, and the school curriculum is not well developed.Today’s new grant from the International Development Association (IDA*) will scale up the ongoing Quality Education for All Project with four new activities to support students in primary school. An additional 267 primary education teachers will be trained, covering all unqualified primary education teachers in the country. The country’s teacher training Show Less -

In five years, the DMF has reached out to more than 70 countries. It has provided training to more than 600 country officials. The work of the trust fund ranges from technical trainings for debt managers... Show More + to expert guidance on formulating debt management reform plans. It also funds country-based assessments of debt management performance and helps countries develop individual debt strategies."It's targeted, it's versatile, and it's very accessible for our clients in developing countries," said Jeffrey Lewis, director of the Economic Policy, Debt and Trade Department.Through the DMF, which is currently funded by seven countries, the European Union, and the African Development Bank, qualified debt managers from developing countries work side-by-side with debt experts at the World Bank during three-month mentorships in Washington, DC.Stella Rusine, a debt manager in the Rwandan government, has participated in several DMF-sponsored trainings, and was in the middle of the Washingto Show Less -

Washington, December 20, 2013 – The World Bank has approved new funding that will help Sao Tome and Principe train its primary school teachers, about 40 percent of whom are women. The aim is to significantly... Show More + raise the quality of primary education in this island nation, which has been registering strong economic growth over the past decade, but continues to face the effects of high poverty and vulnerability.Across the past decade, Sao Tome and Principe has enrolled greater numbers of children in primary school, and has achieved universal primary education. However, the quality of primary education in the country has suffered because there are not enough trained teachers.Now in its second phase, the Quality Education for All Project will set up a training framework for teachers and improve overall human resource management in education. Going forward, the project is funded by the new International Development Agency (IDA*) grant of US$ 0.9 million, alongside a US$1.1 million grant from t Show Less -

The World Bank and International Monetary Fund (IMF) are on track to help relieve 39 countries of approximately US$114 billion in debt through two programs designed to help poor nations free up resources... Show More + for domestic poverty-alleviation, according to an annual report released this month. These initiatives, the Heavily Indebted Poor Countries (HIPC) initiative and the Multilateral Debt Relief Initiative (the MDRI), have delivered an estimated $96 billion in debt relief, and have arranged for creditors to commit to the remainder.To date, 35 countries – 30 of them in Africa – have received the full amount of debt-relief for which they are eligible through HIPC and MDRI. Chad is a current participant and is expected to graduate from the initiative by the end of 2014. Eritrea, Somalia and Sudan are potentially eligible for debt relief, and Somalia and Sudan are actively working to qualify. Show Less -

The technology is especially useful in areas where conflicts, strife, or wars make it difficult to gather data, and it can provide wide-scale observations that cross country borders. A single satellite... Show More + pass can take a high definition image of the entire Mozambique Channel in a matter of seconds. “One of the most difficult tasks facing developing countries is how to monitor large areas with limited resources,” said Zoubida Allaoua, a director in the Bank’s Sustainable Development Network. “The use of satellite technology in our work is ground breaking in its ability to track information across hundreds of thousands of kilometers, in a manner that’s highly reliable and cost effective but not intrusive.”The partnership’s maritime surveillance system, designed for countries of the Mozambique Channel, detected 38 oil spills over a five-month period, providing authorities with enough real-time information to investigate suspected polluters.In São Tome and Principe, eoworld mapping activ Show Less -

WASHINGTON, July 25, 2013 - The World Bank Group committed a record US$14.7 billion in fiscal year 2013 (July 2012 to June 2013) to support economic growth and better development prospects in Africa despite... Show More + uncertain economic conditions in the rest of the global economy.“The region has shown remarkable resilience in the face of a global recession and continues to grow strongly,” said Makhtar Diop, World Bank Vice President for the Africa Region. “Africa is at the center of the World Bank Group 2030 goals of ending extreme poverty and promoting shared prosperity, in an environmentally, socially, and fiscally sustainable manner.”The World Bank Group continued its strong commitment to Africa approving $8.25 billion in new lendng for nearly 100 projects this fiscal year (FY13). These commitments include a record $8.2 billion in zero-interest credits and grants from the International Development Association (IDA), the World Bank’s fund for the poorest countries. This is the high Show Less -

NAIROBI, June 26, 2013 - The latest World Bank review of policies and institutions in Sub-Saharan Africa shows an overall stable environment for growth and poverty reduction despite divergence across countries.... Show More + The review is part of the annual World Bank Country Policy and Institutional Assessment (CPIA) that rates the performance of poor countries. Since 1980, CPIA ratings have been used to determine countries’ allocation of zero-interest financing under the International Development Association,* the World Bank Group’s fund for the world’s poorest countries.The scores of 11 countries rose by 0.1 points or more, reflecting a strengthened policy agenda, and the indexes of another 12 countries declined by at least 0.1 points. Cape Verde and Kenya had the highest scores, although Cape Verde saw a decline in its CPIA for the third year in a row. South Sudan and Eritrea—both countries that suffer deep policy challenges—had the lowest scores. Countries recovering from conflict—such as Cote Show Less -

IDA Grant: US$5.5 million equivalentProject ID: P130925Project Description: The objective of the project is to assist the government in strengthening economic governance and support broad-based growth... Show More + by improving the investment climate. Show Less -

WASHINGTON, June 6, 2013 – The World Bank Board of Executive Directors today approved an International Development Association (IDA*) grant totaling US$5.5 million in support of the Government of São Tomé... Show More + and Príncipe (STP)’s Second-Governance and Competitiveness Development Policy Operation (DPO2). This operation, which is part of a series of three single-tranche budget-support operations, seeks to support the Government in implementing critical reforms aimed at strengthening the links between public expenditure, fiscal sustainability, and sector strategies, with the objective of diversifying the sources of growth and reducing the country’s vulnerability to economic shocks. “Despite remarkable economic gains over the past couple of years, STP’s economy remains highly vulnerable to external shocks,” said Laurence C. Clarke, World Bank Country Director for STP. “This IDA grant, which represents close to 2 percent of the country’s Gross Domestic Product, will support critically-needed po Show Less -

WASHINGTON, April 15, 2013 – Economic growth in Sub-Saharan Africa is likely to reach more than 5 percent on average in 2013-2015 as a result of high commodity prices worldwide and strong consumer... Show More + spending on the continent, ensuring that the region remains amongst the fastest growing in the world -- according to the World Bank’s latest Africa’s Pulse, a twice-yearly analysis of the issues shaping Africa’s economic prospects. In 2012, about a quarter of African countries grew at 7 percent or higher and a number of African countries, notably Sierra Leone, Niger, Cote d’Ivoire, Liberia, Ethiopia, Burkina Faso and Rwanda, are among the fastest growing in the world. The new World Bank report forecasts that medium-term growth prospects remain strong and will be supported by a gradually improving world economy, consistently high commodity prices, and more investment in regional infrastructure, trade, and business growth. Welcoming the new assessment that Africa continues to grow faster t Show Less -

IDA Credit: US$89.4 million equivalentTerms: Maturity = 40 years; Grace = 10 yearsProject ID: P094183Project Description: The objectives of the project are to increase the availability of improved agricultural... Show More + technologies in participating countries in the Southern African Development Community region. Show Less -

WASHINGTON, March 8, 2013 – Despite the steady economic growth in many African countries over the last few years, gains have not always translated into greater gender equality or poverty reduction, the... Show More + World Bank announced today. To mark International Women’s Day, the World Bank’s Africa region launched two evidence based initiatives to step up its commitment to improve gender programs in Africa. First is the Africa Gender Action Plan, a five year blueprint for the Bank’s gender informed activities. Next is the Gender Innovation Lab that will bring scientific solutions through rigorous impact evaluation that will transform how the World Bank will identify development solutions for some of its poorest clients. Combined, the World Bank Africa Gender Action Plan and Gender Innovation Lab will link scientific evidence to guide gender-related lending operations in Africa.“In the past decade, African countries have made some considerable strides when it co Show Less -

WASHINGTON, March 4, 2013 - Africa’s farmers and agribusinesses could create a trillion-dollar food market by 2030 if they can expand their access to more capital, electricity, better technology and irrigated... Show More + land to grow high-value nutritious foods, and if African governments can work more closely with agribusinesses to feed the region’s fast-growing urban population, according to a new World Bank report launched today. According to the Growing Africa: Unlocking the Potential of Agribusiness report, Africa’s food systems, currently valued at US$313 billion a year from agriculture, could triple if governments and business leaders radically rethink their policies and support to agriculture, farmers, and agribusinesses, which together account for nearly 50 percent of Africa’s economic activity.“The time has come for making African agriculture and agribusiness a catalyst for ending poverty,” says Makhtar Diop, World Bank Vice President for Africa Region. “We cannot overstate the importanc Show Less -

New report finds that improvements in border administration and transport & telecommunications infrastructure and services could result in an up to 4.7% increase in global GDP, far outweighing potential... Show More + income gains from complete elimination of import tariffs.Governments should take a holistic approach that considers the entire supply chain, focusing on all policies that impact supply chain efficiency to improve national competitiveness.SME sector would witness increased trade with solutions to specific constraints that disproportionately affect smaller companies.Davos-Klosters, Switzerland, 23 January 2013 – Reducing supply chain barriers could increase global GDP and world trade much more than reducing all import tariffs, according to a new report released today by the World Economic Forum in collaboration with Bain & Company and the World Bank.Enabling Trade: Valuing Growth Opportunities finds that if all countries reduce supply chain barriers halfway to global best practice Show Less -

WASHINGTON, DC, December 27, 2012—The Multilateral Investment Guarantee Agency (MIGA), the political risk insurance arm of the World Bank Group, announced today that São Tomé and Principe has become MIGA’s... Show More + 178th member country.São Tomé and Principe’s membership in MIGA means that direct foreign investment into the country is eligible for the agency’s political risk insurance. This insurance protects investments against the risks of transfer restriction, expropriation, breach of contract, non-honoring of sovereign financial obligations, and war and civil disturbance. Investors from the São Tomé and Principe going into other developing countries may also receive coverage for their investments from MIGA."We extend a warm welcome to São Tomé and Principe," said Izumi Kobayashi, MIGA’s Executive Vice President."Our focus is on markets where we can make the greatest difference, including countries eligible for concessionary lending from the International Development Associatio Show Less -

New Report Highlights Innovations, Home-Grown Solutions in Eight Key SectorsWASHINGTON, December 10, 2012 --- Information and Communication Technology (ICT) innovations are delivering home-grown solutions... Show More + in Africa, transforming businesses, and driving entrepreneurship and economic growth, says a joint report published by the World Bank and African Development Bank (AfDB), with support from the African Union. The report, eTransform Africa: The Transformational Use of Information and Communication Technologies in Africa, provides new data on the technological revolution that is taking place in Africa and its transformational impact on the continent’s development. At the start of 2012, there were some 650 million mobile subscriptions, making the African mobile telephony market bigger than either the EU or the United States. Some 68,000 km of submarine cable and over 615,000 km of national backbone networks have been laid, greatly increasing connectivity across Africa. The Inte Show Less -